Our highly sought-after investor-State team, part of our GAR 30-ranked global international arbitration practice, is consistently working on landmark cases of significance. The combination of our sectoral strength and highly skilled practitioners means we regularly represent clients in high-profile, high-value and cutting-edge investment treaty arbitration matters.
Our impressive track record when acting for both States and investors includes representing clients in proceedings under the auspices of the International Centre for Settlement of Investment Disputes (ICSID), the Permanent Court of Arbitration (PCA), the arbitration rules of the United Nations Commission on International Trade Law (UNCITRAL) and other major arbitral rules and institutions. We have acted in and/or advised on cases under bilateral investment treaties and the investment chapters of multilateral treaties such as the Energy Charter Treaty (ECT) and the North American Free Trade Agreement (NAFTA).
We have acted for and achieved significant wins on behalf of both States and investors. On the State side, this includes two successes ranked in The American Lawyer’s Arbitration Scorecard’s “Top 10 Biggest Defense Wins,” defending multibillion-dollar claims brought against the Republic of Kazakhstan. On the investor side, our lawyers have helped clients achieve some of the largest investment treaty awards on record, including significant awards against Venezuela, the Dominican Republic and the State of Gabon.
- “A highly sought-after investor-state practice with an impressive track record in acting for states.” Chambers UK 2024
- "Extensive experience in both commercial and investor-state arbitration, regularly acting in high-value and complex disputes against other top-ranked practices." The Legal 500 UK 2024
- "Lawyers with market-leading experience in early-stage extractive industries disputes, and in CIS-related matters." The Legal 500 UK 2024
- "Reed Smith is also well-versed in representing investors in significant investment treaty arbitration mandates." Chambers Latin America 2023
We also advise investors on how to structure their investments to maximize protection against host State interference both at the pre-contract stage and in any post-contract restructuring, and we assist States with developing or amending their investment protection regimes to align with their foreign investment goals.
The diverse nature and subject matter of claims handled by our investor-State team covers the oil and gas, construction, transportation, mining, electricity, telecoms, banking, energy (including renewables), and nuclear power industries. Cases include disputes arising out of the regulation of different industry sectors and a State’s right to regulate and investors’ rights to stabilization of the legal regime; privatization and nationalization; the issue of licenses for exploration, exploitation and export; and indirect expropriation claims arising from changes in legislation or alleged breaches of contract between States and investors.
We have experience of: multiple jurisdictional challenges and applications for bifurcation, disqualification challenges, opposing and bringing applications for provisional measures and interim applications(including section 1782 applications), annulment and appeal/set aside proceedings, and enforcement (including issues such as sovereign immunity from suit).
Members of our investor-State team are actively involved in the wider arbitral community, regularly contributing to and hosting events, conferences, and internal and external publications such as Global Arbitration Review’s “The Guide to Challenging and Enforcing Arbitration Awards” and The Law Reviews’ “Investment Treaty Arbitration Review.” Team members also lecture on public international law and arbitration at KazGUU University, L.N. Gumilyov Eurasian National University and the Academy of Public Administration under the President of the Republic of Kazakhstan. The team also held a virtual webinar session on the Draft Code of Conduct for Adjudicators in Investor-State Dispute Settlement with a panel of leading voices from the world of investment arbitration and authorities on ethical standards in arbitration, including the ICSID Secretary-General, an UNCITRAL Senior Legal Officer and a principal drafter of the Code.
Our practice includes lawyers ranked and recognized in leading legal directories, and featured in Law 360’s Rising Stars and Who’s Who Legal's Leaders and Future Leaders.
